Stephen Moore Withdraws Name From Consideration For Federal Reserve Board

By R.J. Johnson - @rickethewriterMay 2, 2019

Trump Says He'll Nominate Stephen Moore To Federal Reserve Board

Stephen Moore has withdrawn his name from consideration for a seat on the Federal Reserve Board of Governors, President Donald Trump tweeted on Thursday.

"Steve Moore, a great pro-growth economist and a truly fine person, has decided to withdraw from the Fed process. Steve won the battle of ideas including Tax Cuts and deregulation which have produced non-inflationary prosperity for all Americans. I've asked Steve to work with me toward future economic growth in our Country," Trump wrote.

In the letter withdrawing his name, Moore, who previously served as a former campaign adviser to the president in 2016, said he was respectfully withdrawing his name from consideration, citing personal attacks on his character.

"I am respectfully asking that you withdraw my name from consideration. The unrelenting attacks on my character have become untenable for me and my family and 3 more months of this would be too hard on us."

"As you know, for the last four years nearly since the start of your campaign for President, I have been an advocate of your economic agenda and am proud to have played a small role in helping make that happen. I will continue to be a loud economic voice advocating for your policies, which will keep us on a prosperous path of 3 to 4% growth with rising wages and low inflation for as far as the eye can see."

Moore's withdrawal comes after several Republican senators questioned whether the former economic commentator was the right person for the job. Sen. Joni Ernst (R-Iowa) said that she was "not really enthused about" Moore's nomination and said she was "very unlikely" to support it. Even one of Trump's top allies on the Hill, Sen. Lindsey Graham (R-S.C.) said Moore's nomination was "very problematic" after some of Moore's past writings and statements came to light.

In one column published in September 2000, Moore said college was a place for men to "chase skirts" and questioned whether women belonged as referees in basketball games in another column.

"Liberals celebrate this breakthrough as a triumph for gender equity. The NCAA has been touting this as example of how progressive they are. I see it as an obscenity. Is there no area in life where men can take vacation from women? What’s next? Women invited to bachelor parties? Women in combat? (Oh yeah, they’ve done that already.) Why can’t women ref the women’s games and men the men’s games."

Moore's qualifications were also in doubt. After President Trump first nominated Moore for the position, he told Bloomberg that he didn't know much about the central bank, or what its board did.

"I’m kind of new to this game, frankly, so I’m going to be on a steep learning curve myself about how the Fed operates, how the Federal Reserve makes its decisions," he said. "It’s hard for me to say even what my role will be there, assuming I get confirmed."

The Federal Reserve Board of Governors are responsible for setting interest rate policy for the U.S. economy. There's no word on who Trump might nominate in place of Moore.